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tv   Business - News  Deutsche Welle  November 13, 2018 6:15pm-6:31pm CET

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stupid five six true that twenty nine thousand budget they had to fight to stay midnight deadline god help us will cough out in a business up they spend just a moment on the back of the top off in our little of the day so worlds from years after death. if you ever have to cover up a murder best way is to make an accident. raring to me. never read a book like this i don't trust german streets. earth home to millions of species. worth saving. google ideas tell stories of creative people and innovative projects around the world like news that
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protect the climate boost green energy solutions and reforestation. interactive content to inspire people to take action google ideas the environment series of google three thousand on t.w. and on the right. on course for a clash italy and the e.u. are at loggerheads over rome's budget with neither willing to back down ahead of a midnight deadline. and the company's fall by success is dragging down wall street apple shares dropped five percent by think more than forty billion dollars of the tech giants market value. and thirty percent of the world market for electric car batteries that's the biggest goal set by germany's economy minister today backed up
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by one billion euros of taxpayer money. this is eat up your business on as welcome today is decision day for italy which is about to hit an e.u. set deadline for redrafting its budget brussels rejected the first plan due to its heavy deficit spending today the international monetary fund joined in the criticism it sees its only his budget shortfall rising of the next three years well above rome's own projections it says italy needs to put to rest any concern about public death sustainability which recently has resurfaced the ongoing conflict is a big concern because italy is not just any economy it's the euro zone's third largest whether it's mean machines from ferrari or muscle roxy or fashion labels like armani gucci and dalton combine a breath. sounds like these stands for italy's economic power but despite its strong industrial base italy punches below its weight in several key areas for
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example economic growth although it's launched a number of programs in the last decade to help kick start investment in the southern european country when stuff remains stubbornly below average compared to the e.u. its new government now wants to radically cop taxes to help spur growth but that could eventually lead to even higher levels of debt and break even budgetary rules so in late october for the first time ever the european commission rejected a draft budget submitted by member states italy so italian leaders have to submit an amended budget until midnight if they don't they are setting up a clash that will probably ripple into markets. rome issued new bonds on tuesday a clear test of investor confidence uncertain buyers demand more return for the risk potentially costing the country more yet bond yields remain stable a sign that buyers still have faith in italian bonds but borrowing costs for rome have risen during the budget fight ratings agencies are partly responsible fitch
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and s. and p. downgraded their outlook on italian debt to negative moody's cut their rating to just about junk the fear is that italy's debt could get too expensive throwing the country into a fiscal crisis and indeed the budget dispute is about politics more than finance italy's populist coalition won office by decrying brussels involvement and lauding self governance echoes of which are still heard on italian streets. are we not a sovereign state are we not three to decide our own destiny see what i mean defections of certainly being part of the european union and being one of the founding countries of the european union's italy has to respect certain restrictions and certain rules but i also think it's right that italy has a certain autonomy to try to solve local problems from which the e.u. keeps its distance. passing on the distance euro zone members are meanwhile standing with brussels fearful that italy's teetering debt load will make it the
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next greece if not far worse under its new budget powers the e.u. can find italy for budget deficit breaches but the bloc would need months to sanction a member state by then the markets will probably have to liver their own verdict. well if there is indeed a crisis looming many italians are oblivious to it as our next report from milan shows. in milan there's little sign of the economic crisis that supposedly small think that unless there's no shortage of urban development projects for example one reason why giovanni buono had no qualms about returning to the northern italian city after spending years abroad. is my impression is that the country and milan in particular is flourishing in terms of business but also in other ways he's so there's a lot going on in the city and it's rejuvenating itself. that he told us that he joined. the startup heads was founded two years ago in madrid that it's been in
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milan for a year now in the city's booming financial technology district here he's meeting business partners to present his crowdfunding real estate financing model which gets small scale investors involved in property management and development the concept has garnered positive reactions when he meets with italian investors boehner says he finds that italy's reputation is worse than the reality on the ground. the last. one factor that surprised us was that his tie in clients invest more on average than in spain. so despite the talk of a crisis here and families seem to be wealthier. from you diana washington what are my joy division was about but that's the view in this city when it comes to rice or livestock the mood is less optimistic firmer francesco packy is struggling with
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cheap produce from asia his view of this state of the italian economy and agriculture is far less rosy than in the financial center milan. because of that i'm not all that i am or we struggle with high wages in italy. and in addition we have a bloated bureaucracy that we have to obey that makes our lives very difficult that sort of. problems that have been around for quite some time but now the country's new populist government plans to significantly boost public spending and is set on a collision course with the e.u. to put it in general that went out the same to the politicians are always promising the great things in coming up with great solutions to problems but they're ultimately unrealistic or only partially applicable because in part of that. i don't think they'll go too far and they're making a lot of noise but just enough to get people's attention. with over sixty
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governments since the end of the second world war italians are slow to get worked up about new policies now wait and see what happens next. apple shares tanked five percent in the u.s. dragging of attack tech shares down all over the world today supplies of mobile phone passes at their largest customer widely believed to be apple asked them to materially reduce shipments investors now fear that apple's i phone is not selling as well as in the past apple is already under pressure after posting disappointing earnings earlier this month back then apple said that it would no longer report sales numbers for its flagship smartphone best as criticize that decision fearing a lack of transparency true. see in the company's books. it's going straight to our markets first one and done a call in front of the losers forty billion dollars market value is that serious or just chickenfeed for a company that big. well i'm sure it was
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a really dark day yesterday for investors holding apple shares when their share was really a dropping by a five percent i've only taken a look at the performance off of the apple shares this year they were actually gaining by ten per cent so certainly this is not going to make shareholders happy but in general nobody really has to warry when we take a look at their performance off the apple share we always see quite some of volatility and they are why while we have to remember apple should gather with amerzone they're the two most valued companies in the world so everybody is expecting them to deliver pretty much all the time whenever there's the news that a product like the latest i phone might not be selling as good as they were hoping for everybody pretty much at the market is freaking down selling their shares and then we see something what happened last night but i really don't think that we have to worry of all the company of the performance in general is still very strong
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also when we take a look for example at the i pad pro that was just released a couple of days ago it seems this is going to be another success story for apple so most likely the shares in the next days will recover again time you know koeppen frankfurt thank you. germany has in marked one the billion euros to support a consortium looking to produce battery cells for electric cars the measures announced today by economic economy minister peter designed to reduce the dependence of german carmakers on asian batteries supplies. europe must aim to produce a third of world wide batteries supplies by twenty thirty. the future of the automobile sector is electric a message that is finally hitting home in germany the country now has fifty four thousand electric cars on the road that's not many but twenty thousand more than just a year ago more and more german car makers are producing
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a lecture. vokes wagon has announced a total sales target for all of its brands of three million units per year by twenty twenty five but to meet those goals manufacturers need huge amounts of battery cells and there are not enough of them in germany the largest battery producers are in japan china and south korea and so far they have the market effectively cornered but that's all set to change the federal government now wants to invest a billion euros to promote battery cell production by twenty twenty one. we want to put our horsepower on the road we no longer want to simply finance research and talk about applications we want to set a tangible course for battery production on a large scale in europe. several companies are teaming up to build their own production facilities in germany up to now carmakers have shied away from the huge investments needed for battery cell production preferring instead to focus on
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meeting the costs of new electric and self driving models and stricter emission standards. that's it for me and the business team here and the beilin how the humphrey hoping next we'll have adopted for you in the next but stay with the global three thousand is up next with a look at the state of equality in kenya just off of this we'll time check on the global markets a huge ferry much full watching the delphiniums fall my. life
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in nairobi is slums is grim. godwin lives right next to the city's largest garbage dump and we're going along where he works and for a. more even though kenya's economy is growing like many others lives a life of poverty. if you don't fight you will always stay poor. three thousand next.
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you can tell a lot about a society by its garbage. the first six merciless for the rich but for many people go first therefore a chance for survival africa is among the most unequal regions in the world. could be lunch for today just like. our reporters travel to nairobi and more people know the true value of garbage. it has created a thriving parallel economy that's been completely ignored by the financial markets but what does all this mean for economic inequality around the world google as a static class was the response to that state was a big yes we are starting to as we walk here because retiring. actually disrupt any
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kind of the the the the rich the good and the trust an exclusive report starts november seventeenth the g w. today on global three thousand we look at social equality what does it mean exactly is it about having access to essential medical cat from the us or about being able to pursue an acting career if you have down syndrome one but in theater shows us how. glorious is about having real chances of.


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